As used in this article, unless the context otherwise requires:
"Date of sale" means the date on which a public auction begins.
"Electronic funds transfer" means a transfer of funds initiated by using an electronicterminal, telephonic instrument, or computer or magnetic tape to order or authorize a financial institution to credit or debit an account. "Electronic funds transfer" does not include a transaction originated by check, draft, or similar paper instrument.
"Negotiable paper" means a bank check, draft, express or post office money order, orcashier's checks approved by the treasurer.
"Public auction" means the sale of lands or town lots under this article at a venue orthrough a medium that allows members of the public to bid and purchase the lands or town lots.
Source: L. 2005: Entire section added, p. 1234, § 1, effective June 3.